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CNA CNA PARAMOUNT Business Property Coverage Part while in the course of transit from the time such property is being loaded at the initial point of shipment and continuously thereafter, until unloaded at the final destination, or if undeliverable, the time it is returned to the location or reported unspecified location, including: a. general average or salvage charges that are assessed; and b. reasonable and necessary expense the Named Insured incurs to inspect, repackage and reship such property. The coverage provided for fine arts, records of accounts receivable and media under this OFF -SITE COVERAGE are subject to the provisions of the Fine Arts Coverage, Accounts Receivable Coverage and Restoration of Media Coverage, respectively, in the ADDITIONAL COVERAGE BASKET section, except the requirement that such property be at a location or reported unspecified location. 2. To the extent time element coverage is applicable under this Business Property Coverage Part, the Insurer will also pay, as provided, for: a. actual loss of business income the Named Insured sustains during the period of restoration due to the necessary suspension or delay of operations; b. the actual loss of research and development business income the Named Insured sustains during the period of restoration due to the necessary suspension or delay of research and development projects; and c. extra expense, caused by loss of or damage to insured property, research and development project property, fine arts and media while in the course of transit directly caused by a covered peril. 3. The most the Insurer will pay for all loss, damage or expense combined under this OFF -SITE COVERAGE for any one occurrence is the Property in Transit Coverage — Property Damage and Time Element Limit of Insurance. 4. When neither the origin nor the destination is in any country upon which the United States government imposes sanction, embargoes or similar provisions, the following applies: a. If the property is transported by an aircraft, the coverage territory is extended to be anywhere in the world for that property while in transit; or b. If the property is transported by an oceangoing vessel, transit coverage ends when the property has been loaded on the oceangoing vessel and only commences when the property has been fully discharged from such vessel onto a point within the coverage territory. 5. This Property in Transit Coverage does not apply to: a. import shipments until marine insurance coverage ceases; b. personal property of others hauled on vehicles owned, leased or operated by the Named Insured when acting as a common or contract carrier, regardless of the Named Insured's liability for such property; c. property sold by the Named Insured under conditional sale, trust agreement or installment payment after delivery to customers; d. property shipped by common carrier or postal service unless such shipment is electronically tracked by such carrier or service; or e. property while in the custody of salespersons. 6. In the event of any loss of or damage to personal property in transit, the Named Insured must immediately make a claim in writing against the carrier, bailee or others involved. CNA62648XX 10-15 Copyright CNA All Rights Reserved. �oRaN I Risk MmRgemerdDivisiun REVIEWED & APPROVED BY.- pu-cN" 1Z. Y1•.t.tA44a Risk Management Analyst